A recent report stated that David Jones’ sales have slumped by 35 per cent as a result of the COVID-19. While in the past it was considered as an icon for the Australian high street, this week it was announced that retailer David Jones will close a number of its stores as sales continue to take a hit amid the ongoing coronavirus pandemic.
Despite a boom in online shopping, sales are reported to have slumped by as much as 35 per cent in March and April as consumers battled job losses and remained largely in lockdown due to Covid-19. As a result, the retailer has been left struggling in debt.
However, other studies are suggesting a new emerging trend since the pandemic, as not all online shopping is experiencing a dive in figures, in fact many smaller boutique businesses are experiencing record sales.
Experts are identifying a new consumer trend toward smaller, more personalised shopping options gaining momentum. Consumers appear to be seeking to buy from smaller businesses where they can interact more with staff and benefit from a more personalised shopping experience.
Updating your policies to achieve a more engaging and personalised consumer interactive approach is now considered an important business growth strategy, as post-pandemic, the need for human connection has become even more important and appreciated.